Billionaires Shift AI Bets From Nvidia to CrowdStrike and Snowflake
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Nvidia (NVDA) stock has benefited hugely from the AI revolution, but some billionaire investors recently pared back their stakes, perhaps seeing limits to future growth.
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Two AI stocks billionaires bought instead are CrowdStrike (CRWD), a cybersecurity leader, and Snowflake (SNOW), a cloud data warehousing firm.
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CrowdStrike benefits from the secular growth of cybersecurity and competitive advantages like high retention rates.
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Snowflake is growing rapidly as enterprise cloud and AI adoption increases, though its slowing growth rate and high valuation are concerns.
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Billionaires like the long-term potential of AI leaders CrowdStrike and Snowflake over chipmaker Nvidia, despite Nvidia’s past dominance.